Elo Mutual Pension Insurance Co grew its holdings in shares of Halliburton (NYSE:HAL) by 2.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,775 shares of the oilfield services company’s stock after buying an additional 1,318 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Halliburton were worth $1,369,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in HAL. Alpha DNA Investment Management LLC bought a new position in shares of Halliburton during the fourth quarter valued at approximately $26,000. GPS Wealth Strategies Group LLC bought a new position in shares of Halliburton during the first quarter valued at approximately $32,000. Veriti Management LLC bought a new position in shares of Halliburton during the fourth quarter valued at approximately $35,000. Prestige Wealth Management Group LLC grew its stake in shares of Halliburton by 67.2% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,839 shares of the oilfield services company’s stock valued at $35,000 after buying an additional 739 shares during the last quarter. Finally, Allworth Financial LP grew its stake in shares of Halliburton by 42.6% during the first quarter. Allworth Financial LP now owns 1,734 shares of the oilfield services company’s stock valued at $37,000 after buying an additional 518 shares during the last quarter. 76.53% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on the company. Barclays raised Halliburton from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $21.00 to $29.00 in a research note on Monday, May 3rd. Credit Suisse Group increased their price objective on Halliburton from $16.00 to $16.50 and gave the stock a “neutral” rating in a research note on Thursday, April 22nd. Atb Cap Markets raised Halliburton from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, April 21st. Zacks Investment Research raised Halliburton from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective on the stock in a research note on Monday, April 12th. Finally, Morgan Stanley increased their price objective on Halliburton from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $20.59.
Halliburton (NYSE:HAL) last issued its quarterly earnings data on Tuesday, April 20th. The oilfield services company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. Halliburton had a positive return on equity of 9.26% and a negative net margin of 13.67%. The firm had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the prior year, the business posted $0.31 EPS. The business’s revenue for the quarter was down 31.5% compared to the same quarter last year. Research analysts forecast that Halliburton will post 0.98 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 23rd. Stockholders of record on Wednesday, June 2nd will be issued a dividend of $0.045 per share. The ex-dividend date is Tuesday, June 1st. This represents a $0.18 annualized dividend and a dividend yield of 0.75%. Halliburton’s dividend payout ratio is presently 27.69%.
In other news, EVP Eric Carre sold 24,260 shares of the stock in a transaction on Thursday, May 6th. The stock was sold at an average price of $21.90, for a total transaction of $531,294.00. Following the completion of the sale, the executive vice president now owns 133,320 shares in the company, valued at approximately $2,919,708. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.61% of the company’s stock.
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as well bonding and casing, as well as provides casing equipment.
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